Here is this week’s snapshot of the Reno/Sparks housing market.
The median price for single family homes in January was $252,000, which is a 3.8% decrease from December’s median price. The median price for condos also decreased to $97,300.
Fewer homes and fewer condos sold during the month of January, and both categories had a decrease in available inventory.
This is not necessarily bad news for buyers and sellers in our region. The lack of available homes and condos for sale is contributing to the reduction in the number of sales. So, if you are thinking about selling, now is an excellent time to put your home on the market.
Is this a good time to buy? With a slowing in the pace of sales, and continued historically low interest rates, this could be a great time for you to purchase a home.
Whether buying or selling, you need an expert on your side. An experienced Dickson Realty agent, along with our award winning website and mobile app, can help you understand the nuances of the market. Contact one of our agents to get the very latest information about your neighborhood home values. We’ve been assisting northern Nevada buyers and sellers for more than 40 years.